Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.75 million 10% callable contingent interest notes on indexes, fund
Chicago, Feb. 29 – JPMorgan Chase Financial Co. LLC priced $3.75 million of callable contingent interest notes due Feb. 5, 2026 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlier closes at or above its 70% interest barrier level on the related monthly observation date.
The securities may be called at par starting May 7 at par and on any subsequent monthly review date.
If the worst performing asset gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Callable contingent interest notes
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Underlying assets: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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Amount: | $3,747,000
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Maturity: | Feb. 5, 2026
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Coupon: | 10% annual rate, paid monthly, if each underlier closes at or above its 70% interest barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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Call: | At par starting May 7 at par and on any subsequent monthly review date
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Initial levels: | 17,642.73 for Nasdaq, 1,962.731 for Russell, $61.49 for fund
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Interest barrier levels: | 12,349.911 for Nasdaq, 1,373.9117 for Russell, $43.043 for fund, 70% of initial levels
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Downside thresholds: | 12,349.911 for Nasdaq, 1,373.9117 for Russell, $43.043 for fund, 70% of initial levels
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Pricing date: | Feb. 2
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Settlement date: | Feb. 7
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.88465%
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Cusip: | 48134TYH1
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